Bulgaria Might Face EUR 1M of Sanctions

Domestic | July 14, 2017, Friday // 12:39|  views

The requirement for foreign citizens to prove that they have lived at least for 5 years in Bulgaria before they can buy agricultural land in Bulgaria should be dropped because of the risk of heavy sanctions from Brussels. However, the government will seek other ways to curb this practice. This was made clear by the words of the Minister of Agriculture Rumen Porozhanov before bTV.

The Ministry of Food and Agriculture has prepared amendments to the law of ownership and use of agricultural lands, with which Bulgaria will fully liberalize the market for agricultural land for buyers from the European Union. The bill has been published for public discussion.

Porozhanov explained that the restriction introduced in 2014 by law to foreign citizens to buy agricultural land in Bulgaria contradicts at least 3 key points of the functioning of the EU and two of the rulings of the European Court. A procedure against Bulgaria is being instituted, and the deadline before giving it to the European Court is until the end of September, "explained the Minister of Agriculture.

If Bulgaria does not respond, there is going to be a fine of EUR 900,000 with EUR 660 of punitive interest per day.  

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Tags: sanctions, property, foreigners


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